News Archives for Print - 2020-01-14

Print - 2020-01-14

PTI's attitude led to Siddiqui's resignation: Waseem

Mayor Karachi Wasim Akhtar on Monday said the Federal Government did not live up to the expectations of Muttahida Qaumi Movement (MQM-P) regarding the resolution of the issues of Karachi.

Published 14 Jan, 2020 12:00am

CDA, SoP sign MoU to digitalize land record management

In line with the vision of Prime Minister Imran Khan to digitalize the land record management, the Capital Development Authority (CDA) and Survey of Pakistan (SoP) have signed a memorandum of understanding (MoU) for cooperation for the development of Isla

Published 14 Jan, 2020 12:00am

NA passes key bills

The National Assembly on Monday passed 'The Banks (Nationalization) (Amendment) Bill, 2020' for regulatory supervision of all non-banking institutions, including National Investment Trust Limited (NITL), under the regulatory purview of Securities and Exch

Published 14 Jan, 2020 12:00am

Fitch affirms long-term foreign currency IDR at 'B-' with a stable outlook

Fitch Ratings has affirmed Pakistan's long term foreign currency issuer default rating (IDR) at 'B-' with a stable outlook.

Published 14 Jan, 2020 12:00am

Remittances: MoF upbeat about achieving $24 billion target

The Ministry of Finance is optimistic that a number of government measures will help achieve the target of $24 billion foreign remittances set for the financial year 2020. It stated that foreign remittances have been recorded at $11.4 billion during the J

Published 14 Jan, 2020 12:00am

PM meets businesspeople, orders steps

Prime Minister Imran Khan Monday assured the representatives of business community that the government would unveil a comprehensive policy soon for revival of sick industrial units as well as sales tax adjustment procedure to move the wheels of economy an

Published 14 Jan, 2020 12:00am

PM lays greater emphasis on higher exports

Prime Minister Imran Khan has directed the Commerce Division to fix targets of export growth as increase in exports is priority of the government.

Published 14 Jan, 2020 12:00am

Stocks

KSE-100 Index cheerless: BRIndex100 little changed

Pakistan Stock Exchange Monday witnessed a mixed trend, however managed to close on a positive note due to fresh buying at the fag end.

Published 14 Jan, 2020 12:00am

UK economy stalls, as BoE eyes rate cut

Britain's economy has stalled, official data showed Monday, as Brexit and political uncertainty contributed to slashing manufacturing output, heaping pressure on the Bank of England to cut interest rates. Gross domestic product contracted 0.3 percent in N

Published 14 Jan, 2020 12:00am

LHC quashes Musharraf case verdict

A full bench of the Lahore High Court (LHC) on Monday unanimously nullified the formation of special court which sentenced former army chief and President Gen Pervez Musharraf (retd) to death in high treason case.

Published 14 Jan, 2020 12:00am

UAE to start first nuclear reactor in 'months'

The United Arab Emirates' first nuclear power plant will start operating within a "few months" after repeated delays to meet safety and regulatory conditions, two energy officials said Monday.

Published 14 Jan, 2020 12:00am

SECP introduces new regime for securities brokers

Securities and Exchange Commission of Pakistan (SECP) Monday introduced new brokers regime for securities brokers by dividing brokers into three categories i.e. 'Trading Only', 'Trading and Self-Clearing' and 'Trading and Clearing' category with minimum n

Published 14 Jan, 2020 12:00am

Hardline Hindus protest huge statue

Hundreds of Hindu activists affiliated to India's ruling party rallied on Monday to protest a planned 'Jesus statue' that will rival Rio de Janeiro's Christ The Redeemer for size.

Published 14 Jan, 2020 12:00am

Iran denies 'cover-up' as anger mounts over downed airliner

Iran denied a "cover-up" Monday after taking days to reveal an airliner was accidentally shot down last week, a disaster that sparked demonstrations and calls for a fully transparent investigation.

Published 14 Jan, 2020 12:00am

Pakistan, Saudi Arabia to revise ASA

Pakistan and Saudi Arabia are to revise Air Services Agreement (ASA) aimed at allowing more flights bilaterally, well-informed sources in aviation Division told Business Recorder.

Published 14 Jan, 2020 12:00am

MQM-P's Siddiqui refuses to withdraw resignation

Convener Muttahida Qaumi Movement-Pakistan (MQM-P), Dr Khalid Maqbool Siddiqui Monday said that he is not ready to take back his decision of relinquishing the federal cabinet.

Published 14 Jan, 2020 12:00am

ME tension: Qureshi holds talks with Saudi FM

Foreign Minister Shah Mahmood Qureshi concluded his trip to Riyadh and Tehran after holding talks with leadership of the two countries aimed at defusing tension in the Middle East.

Published 14 Jan, 2020 12:00am

Letters

What's govt's answer?

In their two-part series of articles "The corrupt, tax cheats, 'secrecy' & RTI" carried by the newspaper recently, Huzaima Bukhari and Dr Ikramul Haq seem to have tried their level best to attract PTI government's attention in particular to their argument

Updated 14 Jan, 2020 05:14am

Articles

Australia's bushfire crisis turns off tourists

Families grieving for lost homes and loved ones, burned koalas rescued from charred forests: The devastation of Australia's bushfire crisis has tainted the country's reputation as a safe and alluring holiday destination.

Updated 14 Jan, 2020 06:32am

Articles

Iraq warns of 'collapse' if Trump blocks oil cash

Iraqi officials fear economic "collapse" if Washington imposes threatened sanctions, including blocking access to a US-based account where Baghdad keeps oil revenues that feed 90 percent of the national budget.

Updated 14 Jan, 2020 06:16am

Articles

Food inflation rises to 22pc!

The Sensitive Price Index (SPI) for the first full week of 2020 ending on the 9th of January has been released by the Pakistan Bureau of Statistics (PBS). Credit must be given to the PBS for, more or less, immediate release on a weekly basis of informatio

Updated 14 Jan, 2020 06:13am

IPPs: review of PPAs

According to a Business Recorder exclusive, a nine-member high-level interdepartmental committee, established to review the power purchase agreements (PPAs) with independent power producers (IPPs) has, in its preliminary report, acknowledged that s

Updated 14 Jan, 2020 07:06am

A deeper look into textile industry's proposals

It is very common for the textile industry to make its proposals for the consideration of government authorities almost on a regular basis. In a recent meeting with the Prime Minister in Islamabad, a delegation of All Pakistan Textile Mills Association (A

Updated 14 Jan, 2020 07:04am

Opposition MNAs from Punjab criticise government for gas load-shedding

The opposition lawmakers from Punjab on Monday blasted the government for gas load-shedding and stoppage of ongoing gas projects in the province, saying it is in no way acceptable.

Published 14 Jan, 2020 12:00am

Senate passes two private members' bills

In a rare show of unity between the government and the opposition, the Upper House of the Parliament on Monday unanimously passed the Islamabad Community Integration Bill, 2019, a private member bill moved by Pakistan Muslim League-Nawaz (PML-N) leader Ra

Published 14 Jan, 2020 12:00am

Indian diplomat summoned over LoC violations

Pakistan summoned top Indian diplomat on Monday and lodged a strong protest over the ceasefires violations along Line of Control (LoC), which resulted in loss of life of an innocent civilian.

Published 14 Jan, 2020 12:00am

Missing lawyer: IHC bench adjourns hearing till January 31

The Islamabad High Court (IHC) on Monday deferred hearing of a petition of High Court Bar Association (HCBA) Multan seeking recovery of a missing lawyer namely Muhammad Yafis Naveed.

Published 14 Jan, 2020 12:00am

Minister tells NA: Saudi company to invest $4 billion in renewable energy sector

Minister for Power Division Omar Ayub Khan on Monday informed the National Assembly that a Saudi power producing company, ACWA Power, will invest around $4 billion in the country's renewable energy sector.

Published 14 Jan, 2020 12:00am

Taxes

FBR launches crackdown on counterfeit cigarette sellers

The Federal Board of Revenue (FBR) Monday launched a crackdown against the traders/businessmen involved in selling of counterfeit cigarettes, but also started nationwide awareness campaign among the traders to avert from selling such non-duty paid items.

Published 14 Jan, 2020 12:00am

Stocks

New regime: stock brokers voice concern over SECP proposal

The PSX Stock Brokers Association has expressed concern over the new brokers' regime proposed by the Securities and Exchange Commission of Pakistan (SECP) with the comments that it would only facilitate big players in the stock market.

Published 14 Jan, 2020 12:00am

PTC, CT teachers: Senate panel directs ministry to clear dues

A Senate panel on Monday expressed concerns over delay in payment of salaries to PTC and CT teachers at religious seminaries in the erstwhile FATA and directed the ministry concerned to clear dues of the teachers forthwith.

Published 14 Jan, 2020 12:00am

Taxes

Evasion of sales tax: IR Faisalabad raids premises of two manufacturing firms

Directorate of Intelligence & Investigation (Inland Revenue) Faisalabad has raided the premises of two manufacturing firms engaged in making taxable supplies and involved in massive evasion of sales tax.

Published 14 Jan, 2020 12:00am

Industrialists postpone their protest against SSGC

Industrialists of seven industrial estates have postponed further protest program on the assurance of Sui Southern Gas Company (SSGC) management to take appropriate measures and improve gas supply. The SSGC assured the industrialists of restoration of the

Published 14 Jan, 2020 12:00am

Taxes

Smuggled betel nuts seized

Directorate General Intelligence and Investigation (DGI&I)-Customs, Karachi on Monday seized myriad quantity of smuggled betel nuts from a warehouse located at SITE area.

Published 14 Jan, 2020 12:00am

Gold prices down by Rs 700

Gold on Monday was traded for Rs 89,600 per tola, down by Rs 700 on the local market, traders said. The precious metal was selling for Rs,76,818 per 10 grams, down by Rs 600 and $1553 an ounce down by $9. Silver was available for Rs 1070 per tola, 917.35

Published 14 Jan, 2020 12:00am

Squash legend Jahangir, others given Hakim Said Award

Some 10 famous individuals in the field of sports, education, journalism, art and social work have been honoured by Hakim Mohammed Said Award.

Published 14 Jan, 2020 12:00am

Money & Banking

SBP governor underscores need for higher exports

State Bank of Pakistan (SBP) Governor Dr Reza Baqir Monday said that there is a need for shifting from 'inward-oriented' to an 'outward-oriented' economy that puts a greater emphasis on exports to achieve high and sustained growth.

Published 14 Jan, 2020 12:00am

Telecommunication

20 Technology Trends 2020 revealed at Telenor Pakistan Headquarters 345

The twenty technology trends will take a prominent lead in developing the global digital ecosystem supported by cellular service providers, device makers and internet companies, said Bjorn Taale Sandberg, Head of Telenor Research.

Published 14 Jan, 2020 12:00am

MQM-P, GDA and BNP-M: Tareen tasked to address grievances of coalition partners

Prime Minister Imran Khan has tasked senior party leader Jahangir Tareen to reach out to the disenchanted coalition partners to address their concerns following three political parties in the ruling alliance - MQM-P, GDA and BNP-M - expressed their reserv

Published 14 Jan, 2020 12:00am

Energy

Appointment of new PSO MD/CEO may be approved today

The federal cabinet is likely to approve the appointment of new managing director/ chief executive officer (CEO) of Pakistan State Oil (PSO) in its meeting scheduled to be held today (Tuesday).

Published 14 Jan, 2020 12:00am

AGP asked to explain Inam's detention

The Supreme Court on Monday directed the Attorney General for Pakistan to submit a report to explain how the detention of Col Inam Ul Rahiem (retd) advocate is related to national security, and present him today (Tuesday) before the court.

Published 14 Jan, 2020 12:00am

NSCCP scam: AC extends physical remand of Ahsan Iqbal

An Accountability Court on Monday extended physical remand of senior leader of Pakistan Muslim League-Nawaz (PML-N) and former Interior minister Ahsan Iqbal in Narowal Sport City Complex Project (NSCCP) scam till January 20.

Published 14 Jan, 2020 12:00am

2,543 officers receiving BISP funds; Cabinet to take up matter today: Firdous

Special Assistant to the Prime Minister (SAPM) on Information and Broadcasting Dr Firdous Ashiq Awan has said that federal cabinet would take up today (Tuesday) the matter of 2,543 officers who had been receiving funds under the Benazir Income Support Pro

Published 14 Jan, 2020 12:00am

Maryam's name to be placed on ECL

A sub-committee of federal cabinet on Monday decided to place name of Pakistan Muslim League-Nawaz (PML-N) Vice President Maryam Nawaz on the Exit Control List (ECL) following recommendations of National Accountability Bureau (NAB) in the Chaudhry Sugar M

Published 14 Jan, 2020 12:00am

Construction of high-rises: Cabinet to take up proposal for discussion today

A meeting of the federal cabinet would take up proposal of construction of high-rises in Karachi, Lahore and Multan as well as receive presentation on situational analysis of ministries and attached departments by the Prime Minister Office.

Published 14 Jan, 2020 12:00am

Telecommunication

Makers of 4G & 5G mobile sets: Incentives to be announced soon: Dawood

Prime Minister Advisor on Commerce, Industries and Production and Investment, Abdul Razak Dawood on Monday said that the government will soon announce incentives for the local manufacturers of 4G and 5G mobile sets.

Published 14 Jan, 2020 12:00am

Foreign funding case: ECP asks PTI, PML-N, PPP to respond to body's objections

The Scrutiny Committee of the Election Commission of Pakistan (ECP) hearing all important foreign funding case has asked all the three mainstream political parties: Pakistan Tehreek-e-Insaf (PTI), Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples

Published 14 Jan, 2020 12:00am

NA Secretariat: 239 given promotion/upgradation letters

Speaker National Assembly Asad Qaiser distributed up-gradation/promotion letters among 239 officers and supporting staff of the National Assembly Secretariat.

Published 14 Jan, 2020 12:00am

Murad explains why he invited MQM to join Sindh government

Sindh Chief Minister Syed Murad Ali has said that MQM-Pakistan has not talked about division of Sindh whenever it joins the coalition government with the PPP.

Published 14 Jan, 2020 12:00am

AGP and MoF at loggerheads over audit issue

The Auditor General of Pakistan (AGP) and the Ministry of Finance are at loggerheads over carrying out audit of AGP as the former says that constitutionally the ministry can not carry out expenditure audit of the AGP while the latter insists it has full a

Published 14 Jan, 2020 12:00am

Appointment of ambassadors, HCs: Merit-based policy being pursued: Qureshi

Five former major generals, one air marshal and a vice admiral have so far been posted out as ambassadors against 20 percent civilian quota for non-career diplomats.

Published 14 Jan, 2020 12:00am

Shazina Masud takes over as CEO of Aman Foundation

Shazina Masud has taken over the charge of Chief Executive Officer (CEO) of The Aman Foundation recently. She will also continue to serve as CEO of Aman Health through this transition. While heading Aman Health since March 2018, Shazina's new role will fu

Published 14 Jan, 2020 12:00am

Energy

Ogra notifies cut in prices of imported RLNG for January

The Oil and Gas Regulatory Authority (OGRA) on Monday notified a decrease in prices of imported Re-gasified Liquefied Natural Gas (RLNG) for January 2020 in its monthly review.

Published 14 Jan, 2020 12:00am

Stocks

Securities brokers asked to maintain minimum liquid capital

Securities and Exchange Commission of Pakistan (SECP) has directed securities brokers to maintain minimum liquid capital and file monthly statements of net capital balance and liquid capital with the securities exchange and clearing house, submit reviewed

Published 14 Jan, 2020 12:00am

Brief Recordings

Balochistan Glass Limited

Balochistan Glass Limited (PSX: BGL) was established in May 1983 as a public limited company. It was acquired by the Gharibwal Group in 1999 and has been operating under the group since then. BGL's manufacturing facility is located at Hub in Balochistan w

Updated 14 Jan, 2020 06:50am

UK 'generations away' from equality in top roles

Britain is "generations away" from achieving gender equality in top positions across the workplace, according to a survey by a leading women's rights group published on Monday.

Published 14 Jan, 2020 12:00am

Democrat Cory Booker exits White House race

US Senator Cory Booker, the last African-American candidate with a realistic shot at the Democratic presidential nomination, dropped out of the race Monday, blaming a lack of funds and saying he saw no path to victory.

Published 14 Jan, 2020 12:00am

Trump paints Democratic opponents as Iranian stooges

President Donald Trump on Monday painted his Democratic opponents as pro-Iranian stooges and retweeted a faked picture of two top party leaders in Muslim garb.

Published 14 Jan, 2020 12:00am

Telecommunication

MI5 dismisses UK-US relationship fears over Huawei

The head of Britain's MI5 security service has dismissed suggestions UK-US intelligence sharing could be damaged if Chinese telecoms giant Huawei develops Britain's 5G network, the Financial Times reported Monday.

Published 14 Jan, 2020 12:00am

Prague, Taipei ink sister deal in snub to Beijing

Prague and Taipei signed a partnership agreement on Monday in an apparent snub to Beijing after the Czech capital dropped it as a sister city just three months ago.

Published 14 Jan, 2020 12:00am

Queen grants Harry and Meghan 'transition period' in Canada

Queen Elizabeth II on Monday said she would allow her grandson Prince Harry and his wife Meghan to split their time between Canada and Britain while an agreement was made on their future, after their shock resignation from front-line royal duties.

Published 14 Jan, 2020 12:00am

PMEX daily trading report

On Friday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,467.

Published 14 Jan, 2020 12:00am

Commodities

Ivory Coast cocoa belt sees hot and dry weather

Ivory Coast's cocoa growing regions stayed hot and dry over the past week as the main crop harvest started to slow down, farmers told Reuters on Monday.

Published 14 Jan, 2020 12:00am

Energy

US natural gas futures down on less cold weather

US natural gas futures slipped on Monday from a two-week high on forecasts for less cold weather and heating demand over the next two weeks than previously expected.

Published 14 Jan, 2020 12:00am

Commodities

Vietnamese coffee prices fall in line with weak London

Vietnamese coffee prices fell this week in line with subdued London prices, but trade activities started to pick up for March contract in Indonesia, traders said on Thursday. Farmers in the Central Highlands, Vietnam's largest coffee-growing area, sold co

Published 14 Jan, 2020 12:00am

Commodities

Rice export prices steady in major Asian hubs

Rice export prices in major Asian hubs held steady this week but a multi-month drought drove expectations of a rise in Thai rates, while a cold snap threatened crops in Bangladesh.

Published 14 Jan, 2020 12:00am

Activities at Karachi and Qasim Ports

The Karachi Port handled 171,209 tonnes of cargo comprising 107,001 tonnes of import cargo and 64,208 tonnes of export cargo including 3,637 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday.

Published 14 Jan, 2020 12:00am

Cotton & Textile

Dull activity seen on cotton market

Leading mills and spinners were on the sidelines on the cotton market on Monday as the ginners did not show any interest in fresh deals in expectations of better profit, dealers said.

Published 14 Jan, 2020 12:00am

Commodities

Brazil's 2020 coffee crop seen below 2018 record

Brazil's 2020 coffee crop is seen reaching 56.4 million 60-kg bags, 12.9% more than the 2019 production but not a record high, according to the first projection for the new season released on Wednesday by the country's statistics agency IBGE.

Published 14 Jan, 2020 12:00am

Money & Banking

Emerging market FX set to falter again this year

Emerging market currencies will cede more ground against the dollar this year, reversing the brief rally at the end of 2019, Reuters polls of foreign exchange strategists found.

Published 14 Jan, 2020 12:00am

Money & Banking

Dollar up in Asia as trade deal day draws near

The dollar began the week supported by optimism on the Sino-US trade front, while the pound wobbled lower after weekend hints at an interest rate cut from a Bank of England policymaker.

Published 14 Jan, 2020 12:00am

Money & Banking

China's yuan rallies, yen slides in Europe

China's yuan led a rally in trade-sensitive currencies on Monday while the Japanese yen dropped to a 7-1/2 month low as the imminent signing of a preliminary US-China trade deal boosted sentiment.

Published 14 Jan, 2020 12:00am

Money & Banking

Early trade in New York: Dollar stronger, sterling drops on weak growth

The US dollar index edged higher on Monday before a heavy week of data, while sterling was the weakest performer after tepid growth increased the likelihood that the Bank of England will cut interest rates this month.

Published 14 Jan, 2020 12:00am

Money & Banking

China new yuan loans seen lower

New bank loans in China likely fell in December but lending for all of 2019 still set a record, a Reuters poll showed, as the central bank eases policy to support the slowing economy.

Published 14 Jan, 2020 12:00am

Money & Banking

Asian forex: Looming Sino-US trade deal lifts units

Asian currencies firmed on Monday, with the trade-sensitive South Korean won among top gainers, as the anticipated inking of a Phase 1 Sino-US trade deal later this week improved risk sentiment.

Published 14 Jan, 2020 12:00am

Money & Banking

Latam currencies miss out on trade rally as Brazil's real drags

Latin American currencies tumbled on Monday, led by the Brazilian real, as prolonged economic uncertainty in the region more than offset broader optimism about an imminent US-China trade deal. A basket of Latin American currencies shed 1.2% and was on cou

Published 14 Jan, 2020 12:00am

Money & Banking

Sterling slides as slowing economy fuels rate cut expectations

Sterling fell sharply on Monday, slipping further below $1.30, after data showed Britain's economy grew at its weakest annual pace in more than seven years in November and raised the chances of a cut to interest rates.

Published 14 Jan, 2020 12:00am

Other

Badminton No 1 Momota hurt, driver killed in crash

Badminton world number one Kento Momota was injured and his driver was killed in a crash near Kuala Lumpur on Monday just hours after he won the Malaysia Masters.

Published 14 Jan, 2020 12:00am

Other

KP minister honours Junior British Open Champion

KP Senior Minister Muhammad Atif Khan Monday honored British Open Junior U-15 Gold Medalist Muhammad Hamza Khan and U-15 and U-17 semi-finalists Ammad Ahmed and Noor Zaman with cash incentives and assured them more support so that they could be able conti

Published 14 Jan, 2020 12:00am

Cricket

Triangular T20 Women's Cricket Championship: Bismah, Muneeba steer PCB Challengers to win

A 121-run stand for the second-wicket between Muneeba Ali and Bismah Maroof led PCB Challengers to an eight-wicket win over PCB Blasters in the fifth match of the National Triangular T20 Women's Cricket Championship on Monday.

Published 14 Jan, 2020 12:00am

Cricket

Sri Lanka to play two Tests in Zimbabwe

Sri Lanka's cricket team will leave for Zimbabwe on Thursday to play a two-match Test series - the first since the African host nation's suspension was lifted by the ICC.

Published 14 Jan, 2020 12:00am

Football

Leisure Leagues six-a-side matches begin

Leisure Leagues is organizing eight-team Six-a-Side football league in collaboration with Sir Syed University at the varsity's ground. The teams participating in the league have been named after renowned personalities of the sub-continent.

Published 14 Jan, 2020 12:00am

Cricket

PCB's Chief Financial Officer resigns

Pakistan Cricket Board (PCB)'s Chief Financial Officer (CFO) Badar M. Khan has tendered his resignation after more than eight years' in the role and will be departing at the end of the current month.

Published 14 Jan, 2020 12:00am

Cricket

Ehsan Mani to convince Bangladeshi counterpart for Test series

While the Bangladesh Cricket Board (BCB) has stuck to its earlier stance of sending team for only the three-match Twenty20 International series to Pakistan, the Pakistan Cricket Board (PCB) Ehsan Mani is going to meet his Bangladeshi counterpart in Dubai,

Published 14 Jan, 2020 12:00am

Cricket

Mashrafe gives up Bangladesh contract riches

Bangladesh one-day international captain Mashrafe Mortaza has withdrawn from his lucrative national team contract amid growing concern over his form and fitness but has been offered a "grand farewell" match.

Published 14 Jan, 2020 12:00am

Cricket

Kohli open to day-night Test at Gabba or Perth

India skipper Virat Kohli said Monday that his side are ready to play a day-night Test at Australia's formidable Gabba ground or in Perth when they tour Down Under later this year.

Published 14 Jan, 2020 12:00am

Football

Real win 11th Spanish Super Cup

Thibaut Courtois proved the hero on Sunday as Real Madrid beat city rivals Atletico Madrid in a penalty shoot-out in Saudi Arabia to win their 11th Spanish Super Cup.

Published 14 Jan, 2020 12:00am

Global Business Economy

Indonesia, UAE sign $23 billion investment deals

Indonesia and the United Arab Emirates have struck nearly $23 billion in business deals, including agreements in the energy sector and on infrastructure projects, the Southeast Asian nation said Monday.

Published 14 Jan, 2020 12:00am

Global Business Economy

Protests and outrage as Siemens backs Aussie mine project

Environmental activists across the world slammed German engineering conglomerate Siemens on Monday after it decided to carry on with a controversial coal mine project in Australia. After holding talks with environmentalists in Berlin last week, CEO Joe Ka

Published 14 Jan, 2020 12:00am

Global Business Economy

UK budget airline Flybe in rescue talks

Troubled British no-frills airline Flybe has held crunch talks with the UK government over a potential rescue, reports said Monday. Officials from the Department for Business, Energy and Industrial Strategy and the Department for Transport held weekend di

Published 14 Jan, 2020 12:00am

Stocks

China to provide more FX hedging channels for foreign bond investors

China's foreign exchange regulator announced measures on Monday that would provide more forex hedging channels for overseas bond investors, as China continues to reform its capital markets and lure foreign capital.

Published 14 Jan, 2020 12:00am

Global Business Economy

New CEO tells staff Boeing must be 'transparent'

New Boeing Chief Executive David Calhoun told employees on Monday the company must strengthen its culture, focus on "integrity" and be "transparent," according to an email sent to staff.

Published 14 Jan, 2020 12:00am

Global Business Economy

EU trade chief heads to Washington on truce mission

The EU's top trade official heads to Washington on Tuesday on a sensitive mission to mend ties with the United States and end several years of protectionist battles. Trade commissioner Phil Hogan's most urgent task will be to defuse a row over a French di

Published 14 Jan, 2020 12:00am

Global Business Economy

Germany pockets billions in surpluses for 2019

Germany's federal government again booked a double-digit billion-euro surplus in 2019, official data showed Monday, leaving unused "fiscal space" even as neighbours and institutions urged Berlin to spend more.

Published 14 Jan, 2020 12:00am

Global Business Economy

German factory outfitters want fairer trade with China

Germany's powerful machine-tool makers' federation said Monday that China should submit to the same international trade rules as developed countries, rather than enjoy emerging-economy leg-ups.

Published 14 Jan, 2020 12:00am

Commodities

Germany, France to push EU to end shredding of male chicks

Berlin and Paris will join forces to end mass shredding of male chicks at the EU level by the end of 2021, agriculture ministers Julia Kloeckner and Didier Guillaume said Monday.

Published 14 Jan, 2020 12:00am

Money & Banking

US to de-list China as currency manipulator

The United States on Monday will formally retract its accusation that China manipulates its currency to gain unfair trade advantages, according to a media report.

Published 14 Jan, 2020 12:00am

Stocks

Gulf shares rise as focus shifts to corporate earnings

Gulf stocks traded higher on Monday, extending their rally to a third day, supported by easing US-Iran tensions and ahead of corporate earnings.

Published 14 Jan, 2020 12:00am

Stocks

Carmakers and banks drag on European markets

European shares fell on Monday as carmakers took a hit from a Chinese sales forecast while the London market outperformed after weak economic data raised expectations of a Bank of England rate cut.

Published 14 Jan, 2020 12:00am

Stocks

Monday's early afternoon trade: Wall Street hits fresh record on trade, earnings optimism

US stock indexes hit fresh record highs on Monday on optimism about the imminent signing of a preliminary US-China trade deal as well as the start of the fourth-quarter corporate earnings season.

Published 14 Jan, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 18	278.55
USD PKR Interbank Buying / Dec 18	278.25
USD to Japanese Yen / Dec 18	153.63
USD to Swiss Franc / Dec 18	0.89
Pound Sterling to USD / Dec 18	1.27
Euro to USD / Dec 18	1.05

Stock	Volume
S&P 500 / Dec 17	6,050.61
Nasdaq / Dec 17	20,109.06
Dow Jones / Dec 17	43,449.90
India Sensex / Dec 18	80,231.76
Tokyo Nikkei / Dec 18	39,081.71
Hang Seng / Dec 18	19,857.31
FTSE 100 / Dec 18	8,222.99
Germany DAX 30 / Dec 18	20,267.35

Item	Value
Gold 10 Grams PKR / Dec 17	241,860
Crude Oil USD/Barrel / Dec 18	70.43
Karachi Cotton PKR/37.32 KG / Dec 18	17,585
Gold Spot USD/Ounce / Dec 18	2,644.54
Cotton US¢/pound / Dec 18	68.50
Petrol/Litre / Dec 19	252.10

Gainers
Losers
Leaders

Stock	Price
LSE Capital / Dec 18 LSE Capital Limited(LSECL)	6.70 ▲ 1.00 (17.54%)
S.G.Power / Dec 18 S.G. Power Limited(SGPL)	9.17 ▲ 1.00 (12.24%)
Faran Sugar (R) / Dec 18 Faran Sugar Mills Limited (R)(FRSMR)	9.43 ▲ 1.00 (11.86%)
Gulshan Sp. / Dec 18 Gulshan Spinning Mills Limited(GSPM)	4.47 ▲ 0.42 (10.37%)
Aisha Steel Mill / Dec 18 Aisha Steel Mills Limited(ASL)	11.06 ▲ 1.01 (10.05%)
Oilboy Energy / Dec 18 Oilboy Energy Limited(OBOY)	11.50 ▲ 1.05 (10.05%)
Suhail Jute / Dec 18 Suhail Jute Mills Limited(SUHJ)	61.55 ▲ 5.60 (10.01%)
Attock Cement / Dec 18 Attock Cement Pakistan Limited(ACPL)	259.27 ▲ 23.57 (10.00%)
AL-Ghazi Tractors / Dec 18 Al-Ghazi Tractors Limited(AGTL)	564.23 ▲ 51.29 (10.00%)

Stock	Price
National Bank / Dec 18 National Bank of Pakistan(NBP)	66.38 ▼ -7.38 (-10.01%)
First Imrooz Mod. / Dec 18 First Imrooz Modaraba(FIMM)	180.01 ▼ -19.99 (-10.00%)
Imperial Limited / Dec 18 Imperial Limited(IML)	20.16 ▼ -2.24 (-10.00%)
J.A.Textile / Dec 18 J.A. Textile Mills Limited(JATM)	44.37 ▼ -4.93 (-10.00%)
Macter Int. Ltd / Dec 18 Macter International Limited(MACTER)	331.40 ▼ -36.82 (-10.00%)
Mari Petroleum / Dec 18 Mari Petroleum Company Limited(MARI)	728.78 ▼ -80.98 (-10.00%)
Synthetic Prod / Dec 18 Synthetic Products Enterprises Limited(SPEL)	45.89 ▼ -5.10 (-10.00%)
Biafo Ind. / Dec 18 Biafo Industries Limited(BIFO)	198.85 ▼ -22.08 (-9.99%)
Bilal Fibres / Dec 18 Bilal Fibres Limited(BILF)	12.61 ▼ -1.40 (-9.99%)

Stock	Volume
WorldCall Telecom / Dec 18 Worldcall Telecom Limited(WTL)	151,921,663 ▼ -0.15
Pak Elektron / Dec 18 Pak Elektron Limited(PAEL)	107,502,606 ▲ 0.34
Cnergyico PK / Dec 18 Cnergyico PK Limited(CNERGY)	67,234,901 ▼ -0.51
B.O.Punjab / Dec 18 The Bank of Punjab(BOP)	60,136,151 ▲ 0.13
Pak Refinery / Dec 18 Pakistan Refinery Limited(PRL)	55,973,468 ▼ -1.00
K-Electric Ltd. / Dec 18 K-Electric Limited(KEL)	46,669,770 ▼ -0.33
Sui South Gas / Dec 18 Sui Southern Gas Company Limited(SSGC)	42,923,281 ▲ 1.67
PIA Holding Co.Ltd / Dec 18 PIA Holding Company Limited(PIAHCLA)	36,897,118 ▼ -0.46
Aisha Steel Mill / Dec 18 Aisha Steel Mills Limited(ASL)	36,858,206 ▲ 1.01

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